Mr. David Schwede reports

HERITAGE CANNABIS ENTERING THE NEW YORK RECREATIONAL MARKET WITH PRODUCTS AVAILABLE IN THE STATE THIS SUMMER

Heritage Cannabis Holdings Corp. is entering the recreational cannabis market in New York, with RAD-branded vape and concentrate products becoming available to New York consumers this summer.

Heritage continues to target the legal markets in the United States with an asset-light model and has signed a manufacturing and distribution agreement with a local partner that will primarily produce and sell products using Heritage's innovative formulations and flavours that have achieved success in other markets. The initial launch will be six SKUs (stock-keeping units) and Heritage plans to add additional RAD products including live resin, rosin and infused prerolls, as well as expand product offerings with additional Heritage brands.

New York State legalized recreational cannabis in 2021, and recently celebrated the first legal four/20 in the state. The New York market is projected to be valued at over $4-billion within five years according to Forbes and is expected to be second only to the California market in the United States and approximately the size of the Canadian legal market.

"This is an ideal time to be introducing Heritage's recreational cannabis products to the state of New York as the official start of legalized cannabis sales begin. With strong market growth projected in New York, Heritage can capture a piece of this market with our well developed, well recognized RAD-branded products," said David Schwede, chief executive officer of Heritage. "Our U.S. strategy continues to grow as previously communicated and we are finding capital efficient ways to do it."

About Heritage Cannabis Holdings Corp.

Heritage Cannabis is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the United States, operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the U.S.

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